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Johannesburg - The JSE closed flat‚ off its earlier all time high‚ with strength from banks and financials countering some softness in the mining and resources sectors.
At 17:00‚ the JSE All Share [JSE:J203] index ticked up 0.08% to 40 908.58 points‚ with the gold‚ resources and platinum indices dipping 1.63%‚ 0.30% and 0.24% respectively.
Banks added 0.95% and financials gained 0.51%.
European markets were broadly higher‚ as a well-received Spanish government bond auction and dovish comments from a European Central Bank official helped offset weak employment data‚ Dow Jones Newswires reported.
The London FTSE 100 index was seen trading 0.40% firmer at 5pm local time‚ and the US Dow Jones Industrial index was 0.41% firmer at the same time.
“There is a lot of activity in the market with the rebalancing of several JSE indices that becomes effective tonight. The rebalancing takes place quarterly‚ but this is an unusual calender year and it is unusual that it happens a week before futures close out. It normally happens on the same day‚” said Guy Algeo‚ a trader at Imara SP Reid.
“The main change is Discovery that is included in the Alsi 40 tonight and Mr Price that will be excluded from the Alsi 40. That is the main reason why Discovery has gained value recently‚” he said.
“Iron ore futures in China have fallen a lot and that is why Kumba and Assore have come under pressure. Resources in Australia also traded softer and that pushed our resources weaker‚” Algeo said.
Discovery (DSY) close 1.04% firmer at R79.00‚ Mr Price (MPC) gave back 0.43% to R116.30. Kumba Iron Ore (KIO) slumped 5.03% to R510.06 and Asssore (ASR) was 0.27% sorter at R338.40.
On the JSE‚ Anglo American (AGL) closed 0.58% firmer at R257.49‚ while BHPBilliton (BIL) dipped 0.50% to R288.56.
Kumba Iron Ore (KIO) shed 5.03% to close at R510.05 and ArcelorMittal (ACL) shed 2.59% to close at R30.05.
Goldfields (GFI) shed 2.12% to R72.61 and Anglogold Ashanti (ANG) gave back 1.65% to R227.39. Lonmin declined 1.58 to R44.98.
Among banking counters FirstRand (FSR) gained 1.19% to R40.86 and insurer Old Mutual plc added 1.65% to R28.95.
At 17:00‚ the JSE All Share [JSE:J203] index ticked up 0.08% to 40 908.58 points‚ with the gold‚ resources and platinum indices dipping 1.63%‚ 0.30% and 0.24% respectively.
Banks added 0.95% and financials gained 0.51%.
European markets were broadly higher‚ as a well-received Spanish government bond auction and dovish comments from a European Central Bank official helped offset weak employment data‚ Dow Jones Newswires reported.
The London FTSE 100 index was seen trading 0.40% firmer at 5pm local time‚ and the US Dow Jones Industrial index was 0.41% firmer at the same time.
“There is a lot of activity in the market with the rebalancing of several JSE indices that becomes effective tonight. The rebalancing takes place quarterly‚ but this is an unusual calender year and it is unusual that it happens a week before futures close out. It normally happens on the same day‚” said Guy Algeo‚ a trader at Imara SP Reid.
“The main change is Discovery that is included in the Alsi 40 tonight and Mr Price that will be excluded from the Alsi 40. That is the main reason why Discovery has gained value recently‚” he said.
“Iron ore futures in China have fallen a lot and that is why Kumba and Assore have come under pressure. Resources in Australia also traded softer and that pushed our resources weaker‚” Algeo said.
Discovery (DSY) close 1.04% firmer at R79.00‚ Mr Price (MPC) gave back 0.43% to R116.30. Kumba Iron Ore (KIO) slumped 5.03% to R510.06 and Asssore (ASR) was 0.27% sorter at R338.40.
On the JSE‚ Anglo American (AGL) closed 0.58% firmer at R257.49‚ while BHPBilliton (BIL) dipped 0.50% to R288.56.
Kumba Iron Ore (KIO) shed 5.03% to close at R510.05 and ArcelorMittal (ACL) shed 2.59% to close at R30.05.
Goldfields (GFI) shed 2.12% to R72.61 and Anglogold Ashanti (ANG) gave back 1.65% to R227.39. Lonmin declined 1.58 to R44.98.
Among banking counters FirstRand (FSR) gained 1.19% to R40.86 and insurer Old Mutual plc added 1.65% to R28.95.
